EUR/USD is trading below 1.1150, consolidating its losses. Markets are stalling ahead of the all-important US GDP report which carries high expectations. Some suspect a "sell the fact" response in reaction to an OK number.
GBP/USD is trading around 1.2900, recovering the lost ground after hitting two-month lows. The Brexit impasse weighs as the main parties have not made progress. The anticipation to US GDP limits movements.
We come to the end of the analysis week, and the Crypto market accelerates the reversal and consolidation process that started last week. The bullish green dominated yesterday at the end of the US session in a typical bearish break confirmation move.
The cryptocurrency community is ending the week in shock following reports of Bitfinex exchange covering up for an $850 million shortfall in its issued Tether (USDT) stablecoin. Investors reacted across the board as the prices plummeted considerably.
The cryptocurrency market is dealing with the aftermath of the allegations facing Tether (USDT) and Bitfinex following a new filing by the New York Attorney General’s office. The two entities are accused of covering up a shortfall of $850 million in funds to pay for customer withdraws.